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Discover announces expansion of ATM network in Vietnam

November 18, 2013

Discover Financial Services and Smartlink Card JSC, a domestic payments network in Vietnam, have announced a strategic alliance that will give Discover and Diners Club International cardholders the ability to use their cards at more than 16,000 ATMs in Vietnam via a network of local commercial banks.

The long-term agreement will further increase transaction volume on the international domestic payment network while giving Discover and DCI cardholders more consumer cash access points in Vietnam, the companies said in a press release.

"Discover's relationship with Smartlink captures the true essence of our global expansion strategy, which is to leverage our unique set of assets to grow volume and support the growth of local leading international networks," said Diane Offereins, president of payment services at Discover. "With Vietnam poised as an emerging market with large economic growth, we feel confident that we've found a strong partner and will continue to explore additional opportunities with Smartlink in the future."

Currently Smartlink is interconnected with 51 banks and financial institutions, of which 40 banks are Smartlink members. It is a network with more than 16,000 ATMs and 100,000 point-of-sale terminals, which support payment activities for 55 million local debit cards in market. During the first nine months of 2013, Smartlink processed more than 70 million transactions, valued at $2.7 billion USD.

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